ConnectOne Bancorp jumps after Q4 profit tops expectations

ConnectOne Bancorp

30/01/2025 19:36

** Shares of regional lender ConnectOne Bancorp  CNOB.O 
jump 7.2% to $25.54 
    ** CNOB posts Q4 adj. profit of 52 cents/shr, beating Wall
Street expectations of 43 cents/shr, according to data compiled
by LSEG
    ** Q4 net interest income rose 4.7% to $64.7 mln, ahead of
estimates of $63.9 mln      
    ** Net interest margin - a key measure of banking
profitability - improved to 2.86% in Q4, from 2.71% a year
earlier     
    ** Monetary policy easing by the U.S. Federal Reserve has
lowered pressure on regional banks, as they shell out lesser on
deposit costs    
    ** CNOB stock ended flat in 2024


 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))